IDB approves US$280mn loan to combat urban poverty

- Friday, September 9, 2011

IDB approves US$280mn loan to combat urban poverty

IDB has approved a US$280mn loan to help fight urban poverty in Mexico through improving urban infrastructure, increasing access to basic services and addressing social integration.

The initiative, which is being co-financed by the Mexican government, involves paving or repaving 17Mm2 of road surface, IDB said in a release.

Regarding basic services, the program seeks to implement 1,000km of potable water pipelines, 1,350km of drainage and sewerage pipelines, and 168km of electrical wiring, among other actions.

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The 25-year loan comes with a three-year grace period and Libor-based variable interest rate.